defense and budget related worries are, yes, baked into the stock. if anything, they think alliant tech has room to play catchup now that big lake city contract that is behind them. they think that atk can outperform by 20% over the next three to six months without much in the way of down side risk because the stock is so cheap. they believe that worries about the lake city contract were keeping the stock down. that's a big part of the business. the deal can be worth $2 billion over the next ten years. if they lost the contract, it wouldn't have been a huge hit to atk's earnings. the company doesn't have any other major contracts expiring in the near future where it has to compete for business. investors have much less to worry about. confidence, now the big risk, it's off the table. we can now focus on atk's monster buy back, 175 million repurchase authorization. plus, if obama gets re-elected, they expect the civilian side to get a major boost as regular people, yes, stockpile ammo.